PV sales grow 4% in Nov, but two-wheelers see 1% decline

PASSENGER VEHICLE (PV) despatches from companies to their dealers grew 4% year-on-year (y-o-y) in November even as retail volumes during the same month declined by 14%.

- SWARAJ BAGGONKAR

Industry body the Society of Indian Automobile Manufacturers (SIAM) said that total domestic volumes during the reporting month stood at 347,522 units, which was the best-ever for November.

The average inventory days for the PV segment came down to 65-68 days at the start of this month from 85-90 days, as per dealers, but they added that the stock was still high for December as dealers struggle to bring down the inventory since buyers typically push their purchase to the new year.

While the industry has been relying on discounts in the previous months, there has been a significant spike in consumer schemes in December as carmakers and their dealer partners face the uphill task of liquidating more than two months of inventory.